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S-3 Filing
Olympic Steel (ZEUS) S-3Shelf registration
Filed: 29 Oct 09, 12:00am
Year Ended December 31, | ||||||||||||||||||||||||
Nine | ||||||||||||||||||||||||
Months Ended | ||||||||||||||||||||||||
Sept. 30, 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||
Income (loss) before taxes | $ | (95,244 | ) | $ | 108,098 | $ | 40,505 | $ | 49,406 | $ | 36,193 | $ | 98,893 | |||||||||||
Add: | ||||||||||||||||||||||||
Amortization of previously capitalized interest | 55 | 37 | — | — | — | — | ||||||||||||||||||
Interest (including capitalized interest) | 1,919 | 1,580 | 2,819 | 2,677 | 3,703 | 4,655 | ||||||||||||||||||
Interest portion of rental expense | 189 | 262 | 253 | 213 | 129 | 102 | ||||||||||||||||||
Total additions | 2,108 | 1,842 | 3,072 | 2,890 | 3,832 | 4,757 | ||||||||||||||||||
Deduct: | ||||||||||||||||||||||||
Capitalized interest | (58 | ) | (432 | ) | — | — | — | — | ||||||||||||||||
Total earnings (loss) | (93,194 | ) | 109,508 | 43,577 | 52,296 | 40,025 | 103,650 | |||||||||||||||||
Capitalized interest | 58 | 432 | — | — | — | — | ||||||||||||||||||
Interest and other expense on debt | 1,861 | 1,148 | 2,819 | 2,677 | 3,703 | 4,655 | ||||||||||||||||||
Interest portion of rental expense | 189 | 262 | 253 | 213 | 129 | 102 | ||||||||||||||||||
Fixed charges | 2,108 | 1,842 | 3,072 | 2,890 | 3,832 | 4,757 | ||||||||||||||||||
Ratio of earnings to fixed charges(1) | — | 59.46 | 14.18 | 18.10 | 10.44 | 21.79 | ||||||||||||||||||
(1) | Earnings were insufficient to cover fixed charges by approximately $95.3 million for the nine months ended September 30, 2009; accordingly, no ratio is presented for such period. |